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China’s Purchasing Managers’ Index (PMI) for the country’s manufacturing industry rebounded by 16.3 basis points from February to 52 after having in contraction in February, though the national economy is by no means back to the normal level, according to the latest release from China’s National Bureau of Statistics (NBS) on March 31.
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Dhamra Port Company Ltd. has declared force majeure amid the deadly Novel Corona Virus Disease (COVID 19) which has erupted worldwide and declared Global Pandemic by WHO, SteelMint learned from its sources. The force majeure is put to effect from 07:00 hrs on 22nd Mar’20.
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March 25 was the date when Hubei in Central China returned to the national connection network with the gradual resumption of its road, rail and air transportation. For the prior two months since January 23, the province had been in lockdown starting from Wuhan, the epicentre of the COVID-19, to prevent the contagion spreading nationwide.
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China’s fixed asset investment (FAI) had been hit hard by the outbreak of COVID-19 across the country over the first two months, having plunged 24.5% on year, or a free fall from the 5.4% year-on-year growth for the whole 2019, and the FAI in the property market also plummeted 16.3% on year, according to the latest statistics from the country’s National Bureau of Statistics (NBS) on March 16.
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China’s fixed asset investment (FAI) plunged 24.5% on year over January-February, and that in the property market plummeted 16.3% on year, according to the latest statistics from the National Bureau of Statistics. A detailed report will be posted soon.
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The Dalian Commodity Exchange (DCE) headquartered in Northeast China’s Liaoning province is progressing with the launch of liquified petroleum gas (LPG) futures and options contracts, Mysteel Global has learned. The exchange is currently collecting public feedback about the contract designs and will accept submissions until March 13.
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China’s foreign trade slumped to a serious deficit of Yuan 42.6 billion or $7.09 billion for the first two months of 2020, as against a surplus of Yuan 293.5 billion or $41.45 billion a year ago, because of the prolonged Chinese New Year holiday and the virus outbreak, China’s General Administration of Customs explained on March 7.
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Nowadays, when I am counting my blessings, I will put one in the daily list, which is that I have never ever thought of testing my market understanding by trading iron ore in the physical or paper markets myself despite having been closely monitoring the market since 2004.
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Indian primary mills reported 2 rakes of wire rod export deals to Nepal while some more deals are under negotiation, SteelMint learned from its credible sources.
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Click here for the first part of the feature
Heavy-duty trucking needs more time back to full mode
When steelmaking raw materials transportation
by water and by rail has been steadily and gradually recovering to their normal
levels since early February especially in the past two weeks, iron ore
transhipment from sea ports to
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If the Chinese steel mills only needed the raw materials supplies to pick up so that they could run smoothly, then the recent progress in the domestic logistics service since mid-February should have been rather enchanting.
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China’s 81 property enterprises have filed for bankruptcy since the start of 2020, according to the official data from the People’s Court Announcement, as their promotional efforts including discounts have been futile in selling off their housing stocks so far when people dare not even step out of the door most of the time since the nationwide outbreak of Novel Coronavirus Pneumonia (NCP) in latest January.
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China’s central government has called for “business resumption, especially in key industries, as soon as possible”, even though the battle against the Novel Coronavirus Pneumonia (NCP) is still ongoing, senior officials from four top-level governing bodies including the National Development and Reform Commission (NDRC) stated at a joint press conference in Beijing on February 11.
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China’s General Administration of Customs announced on February 7 that it will release January-February cumulative data in March starting 2020.
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Joint Plant Committee (JPC) released its provisional data for Jan'20 today. According to the released data, India's finished steel exports declined by 10% M-o-M basis to 0.693 MnT in Jan’20 as compared to 0.767 MnT in Dec'19.
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Lian Weiliang, vice head of China’s National Development and Reform Commission (NDRC), emphasized at a press conference on February 3 in Beijing that the impact of the Novel Coronavirus (2019-nCoV) outbreak on China’s economy will be temporary and short-term.
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Many ferrous market sources outside China have been rather keen to understand whether or how badly Chinese steel demand has been dampened by the outbreak of the Novel Coronavirus (2019-nCoV), or whether China’s iron ore consumption will decline because of the virus attack. One answer covers all: “wait until 2019-nCoV has been defeated and within control.”
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China’s Purchasing Managers’ Index (PMI) for the country’s manufacturing industry inched down to the brink of the expansion zone, falling 0.2 basis point on month to 50 for January without taken into consideration of the impact of the Novel Cornavirus (2019-nCoV) outbreak, according to the latest release from China’s National Bureau of Statistics (NBS) on January 31.
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China’s Purchasing Managers’ Index (PMI) for the steel industry recovered 4 basis points on month to 47.1 for January, indicating an overall stable market, however, “the outbreak of the Novel Coronavirus (2019-nCoV) will affect both the steel production and demand in the near term”, the official index compiler CFLP Steel Logistics Professional Committee (CSLPC) warned in its release on January 31.
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January 31 was supposed to be the day when most Chinese employees would have returned to work, happy and refreshed, after the official holiday over January 24-30 for the Chinese New Year (CNY) celebrations. Not for 2020, though, as Beijing has announced that the holiday will be extended until February 2.
